Endeavour Mutual Bank Special Fixed Home Loan
Endeavour Mutual Bank's Special Fixed Home Loan offers competitive fixed rates for owner-occupiers and investors. You can get the loan with a 5% deposit.
Endeavour Mutual Bank's Special Fixed Home Loan is available for both owner-occupiers and investors. It is also available for a deposit as small as 5% of your property's value. This makes it an option for home buyers and investors with small deposits.
Richard Whitten is a senior writer at Finder covering home loans and property. He helps everyone understand the ins and outs of mortgages so they can make smarter property decisions. He has written for Yahoo Finance, Money Magazine, Homely, and for multiple banks and lenders. Richard trained as a high school teacher but found it easier to manage personal finances than a classroom full of kids. Before joining Finder, he edited textbooks and taught English in South Korea. Richard has a Bachelor of Education, a Graduate Certificate in Communication and is currently studying a Certificate IV in Finance and Mortgage Broking.
The Endeavour Mutual Bank Special Fixed Home Loan comes with two and three-year fixed rates. After the fixed period ends, the rate reverts to a variable interest rate.
The loan has principal and interest repayments, but investors can also choose interest only repayments.
About this loan
What are the features and benefits of the Endeavour Mutual Bank Special Fixed Home Loan?
- Loan amount. This loan has a minimum loan amount of $100,000 and a maximum loan amount of $10,000,000.
- Loan to value ratio (minimum deposit). The maximum insured loan to value ratio on this loan is 95%. Please note: if your deposit is below 20% you may need to pay a lenders mortgage insurance (LMI) premium.
- Extra repayments. This loan allows you to make up to $20,000 in extra repayments during the fixed period.
- More options. This loan lets you split your rate between fixed and variable rates and has a redraw facility.
- Family support option. If you have a family member who has their own property and is willing to offer it as security, they can guarantee your Special Fixed Home Loan. This can help you get the loan with little or no deposit, while avoiding LMI.
What fees and charges come with this loan?
The Endeavour Mutual Bank Special Fixed Home Loan only has several fees, so make sure you factor these into your comparison. Some of these fees will vary depending on your borrowing situation.
- Application fee: $250. This fee is charged once, to cover the costs of processing your application.
- Settlement fee: Variable. This one-off fee covers the cost of loan settlement.
- Valuation fee: Variable. This fee covers the lender's cost to get your property valued.
- Legal fee: Variable. This fee covers the lender's legal costs.
- Discharge fee: $180. This fee is only charged when you exit the loan.
How to apply
Interested in the Special Fixed Home Loan from Endeavour Mutual Bank? Just click the green button and leave your details. Then a lending specialist from Endeavour Mutual Bank will get in touch to help you take the next step.
Home Loan OffersImportant Information*
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